Manchester Untied released an alarming message about their finances on Thursday.
In response to a letter from fan groups about increasing ticket prices at Old Trafford, United responded by saying: “We are currently making a significant loss every year – totaling more than £300 million over the last three years.
“This is not sustainable and if we do not act now, we risk not meeting PSR/FFP requirements in the coming years, which will have a significant impact on our ability to compete on the field.”
Since Sir Jim Ratcliffe and INEOS came into the club as investors, there have been a series of stories of cuts and cuts. There have been 250 redundancies among club staff, funding for club legends has been cut or reduced and restructuring has taken place behind the scenes.
It was short-term pain with the ambition of long-term gain. United believe restructuring could lead to savings of £40 million in the future. The situation was also a theme during the January transfer window, with homegrown players such as Alejandro Garnacho linked with possible sales.
But the urgency of the need to scale back is underlined by this latest comment from the club, especially with Ruben Amorim's team languishing in the bottom half of the Premier League and on the verge of missing out on qualification for lucrative Champions League football again to walk. .
“It's a serious situation, by their own admission,” said Kaveh Solhekol, chief reporter for Sky Sports News.
“United reported a net loss of £113 million in their latest accounts and they have lost more than £300 million in the past three years. New co-owner Sir Jim Ratcliffe has laid off staff, cut spending and increased ticket prices.
“Every season United loses out of the Champions League hits them hard in the pocket. Judging by their position in the league, things will get worse before they get better.”
Interestingly, this statement about the need for belt-tightening comes in a week in which United were ranked fourth in the 2025 Deloitte Football Money League, with their £651.3m turnover surpassed only by Real Madrid, Manchester City and Paris Saint Germain.
But the poor sporting performances have taken their toll. In addition to the absence from the Champions League, there has also been major transfer spending in recent seasons, with more than £600 million spent on players for Erik ten Hag. United were also forced to pay compensation for the Dutchman after extending his contract in the summer and sacking him 12 games into the season.
With Amorim seemingly in need of a squad overhaul and the club needing to bring in players to suit his different system and playing style, United may once again be forced to fight their way out of trouble. Which brings us back to the increased ticket prices and controversial budget cuts.
United supporters groups have labeled ticket price increases in recent years as 'largely insignificant' in the grand scheme of the club's huge revenues.
“The co-owners probably see the price increases as a marginal gain,” says Solhekol.
“United has huge debts and must comply with Premier League and UEFA financial regulations.
“Generally speaking, the more you earn, the more you can spend, especially under the new Premier League selection cost control rules that come into effect next season.
“United must cut costs and maximize revenues. Ticket price increases, mass redundancies and cost cuts are all controversial when fans can point to players who are making fortunes and not performing on the pitch.
“Many clubs have owners who have invested significant sums of money in their clubs. The Glazer family's ownership has cost United more than £1 billion. United's long-term debt – the money the Glazers borrowed to buy the club 20 years ago – still stands at $650m (£526m).”
Could Man Utd be in breach of PSR/FFP rules?
On the face of it, United's claim that they have lost £300 million over the past three years would put them in breach of PSR rules, which only allow a loss of £105 million over three seasons.
However, within these rules there are allowances, where clubs can stretch transfer fees paid over multiple accounting periods and write off costs deemed to be “in the general interest of football”, such as infrastructure, women's teams and academies.
Earlier this month we reported that no Premier League clubs were charged with PSR breaches during the three-year period between 2021 and 2024.
Importantly, PSR will be replaced next season by Squad Cost Rules, which will limit club expenses to a percentage of their revenues.
So for now United are staying within the limits. But as the club itself has warned, decisive steps are needed now to avoid future penalties.
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